The Land Registry's latest London data is out and reveals that the borough of Lewisham has the second-fastest rate of house price rises in the capital in the year to April, with an annual growth rate of 16.4%.

Newham was the fastest-riser, with the cheaper boroughs dominating the top 10.

Back in May, when an 11-feet wide Brockley house sold for half a million pounds, we declared that the area's status as "relatively affordable" was officially over - that the borough had moved in to the middle of the pack. With the average price of a Lewiaham home now at £391,000 - the second highest figure in this top 10 - the numbers back our assertion up.

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comments:

AliAliAfro
said...

Below is a link to the full report for anyone who is interested. Lewisham house prices rose 16.4% last year and 1.4% of that was last month. Bromley was very close behind us (16%) but Southwark and Lambeth were more mid table with c. 11%. https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/430497/HPIReport20150511.pdf

So Hugh has his answer.... Love a nice bit of property porn discussion. Woman who sits next to me at work is looking for a place in Putney and says that prices there have dropped since around the time of the election. Sounds like we're seeing an even-ing out of prices across London with undervalued areas like Lewisham on the rise and over priced spots like SW London, stagnating.....

In the longer term Brockley will continue to attract monied professionals, since (a) it's zone 2 with the best transport to both Canary Wharf and the City of anywhere in London, (b) it's a conservation area and the supply of conservation areas doesn't increase, (c) other zone 2 areas are now unaffordable or not worth it, (d) the deli/arts/organic/Claphamification of the area has reached critical mass, (e) Lewisham is being transformed, (f) Nick has years left in him.

Ah, this goes back a few years when previous residents of Brockley referred to newcomers on here as 'mungo bean eaters'. Presumably because mungo beans represent the sort of healthy food that well-to-do middle class people like to eat. (As opposed to fried chicken and Domino's pizza, I suppose?).

It's basically inverse class snobbery of people who are perceived to be well-off and educated - by people who logically therefore are thick and poor? Discuss!

You need a tube station or plans at least.Either that or move.To Catford.Hey it could be worse. I could have said Croyden.But there's no tube planned for Croyden , so it'll have to be Plumstead instead.See Abbey Wood is also outperforming Brockley. Maybe that's because they've got a prison.

The only structural defect in the conservation area housing market is the incidence of huge houses not in private ownership. These are unlikely ever to come to market, meaning those wanting to move to Brockley face living in a flat (although there are plenty of nice ones) or paying a price for a house that reflects ever-restricted supply.

I once called Lewisham BC to enquire about their policy on selling trophy Victorian six-bedders in the conservation area. The man said to me: "Why would we ever do that?" I realised it was my cash against the Leviathan of institutionalised socialism and concluded I'd have more chance of persuading voters to choose a conservative MP, before withdrawing from the fray.